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SEC Filings

8-K
GREENSKY, INC. filed this Form 8-K on 11/13/2018
Entire Document
 

Our Costs & Expenses 3 months ended 9/30 Cost of Revenue Origination Related  0.5% of transaction volume in Q3’18  Staff, variable credit and identity verification, and other Servicing Related  0.6% of average servicing portfolio in Q3’18  Call center personnel, printing and postage FV Change in FCR Liability  1.1% of average servicing portfolio in Q3’18  Our obligation to remit previously billed, but uncollected finance charges on deferred interest loans that paid off during their promotional periods, net of cash receipts from bank partners and third-party investors Operating Expenses  Primarily consists of compensation and benefits  Our technology-led and sponsor-backed go-to-market strategy has enabled minimal sales and marketing expenses Note: Adjusted EBITDA, Pro forma Diluted EPS, and Pro forma Net Income are non-GAAP measures. See Appendix for reconciliations to U.S. GAAP. 1 Amounts as presented may not foot due to rounding. 30 ($ millions) 2015 2016 2017 2017 2018 Transaction volume $ 2,076 $ 2,882 $ 3,767 Growth 39%31% Average loan servicing portfolio $ 2,003 $ 3,156 $ 4,501 Growth 58%43% $ 1,049 $ 1,400 28%33% $ 4,680 $ 6,573 41%40% ($ millions, except per share data)1 Transaction fees Servicing and other Total revenue $ 153 $ 228 $ 279 21 35 47 $ 76 $ 97 12 17 $ 173 $ 264 $ 326 $ 88 $ 114 Cost of revenue (37)(79)(90) (22)(35) Operating expenses (44)(65)(91) (26)(24) Total costs and expenses Operating profit Other income / (expense) Income tax expense Net income Pro forma Net Income Adjusted EBITDA GAAP Diluted EPS Pro forma Diluted EPS Weighted avg. shares outstanding, diluted (millions) ($80)($ 144) ($ 180) ($48)($60) $ 93 $ 120 $ 146 1 5 (7) ---$ 40 $ 54 (2)(5) -(3) $ 94 $ 124 $ 139 ---$ 97 $ 131 $ 159 ---------$ 38 $ 46 32 39 $ 46 $ 59 -$ 0.20 -$ 0.21 -189.2